(TheNewswire)
KINGSTON, ONTARIO – TheNewswire- September 8, 2022 - Stria Lithium Inc. (TSXV:SRA) (Stria or “The Company”) welcomes the signing into lawof last month’s historic climate bill by US President Joe Biden thatwill establish preferential tax treatment for electric vehicles madeanywhere in North America, potentially benefitting companies such asStria that are developing lithium projects in Canada.
This bill, passed by US Congress in August, could havetremendous implications for Canada’s role in the production of cleantransportation. The new bill allocates 500 million towards thedevelopment of North American projects that would lessen dependence onAmerica’s rivals, including China, for minerals critical to thedevelopment and manufacture of electric vehicle (EV) batterycomponents. The ripple effects of this bill will likely have apositive impact on Canadian mining companies focused on criticalminerals exploration, including Stria Lithium, which is advancing itsPontax spodumene lithium project in Northern Québec in partnershipwith Australian-based Cygnus Gold. Stria is also exploring for PGMs(platinum group metals) at its Romer property located in the LabradorTrough sector of Nunavik in Northern Québec.
“Biden’s new climate law shows that the US isserious about finding secure, reliable, North American sources oflithium and other critical minerals,” said Stria’s CEO, DeanHanisch. “As new battery manufacturing plants are announced anddemand for EVs continues to grow, the need for the raw materials forthose batteries, such as lithium, will be greater than ever before.The world is shifting to greener modes of transportation, making itessential to develop sources for these raw materials that Americanscan rely on, and we are pleased to see that they are supportingCanadian critical minerals projects like ours in preparing for thisshift. Stria Lithium plans to take full advantage of thissupport.”
The White House’s U.S. – Canada / Canada- U.S. Supply Chains Progress Report ,published in June 2022, explicitly includes Canada as a domesticsource under the U.S. Defense Production Act and mentions thepotential for co-operation opportunities on critical minerals betweenthe two countries.
About Stria Lithium Inc.
Stria Lithium is a Canadian junior mineral explorationcompany with an expanding technology focus and has a 100% interest inthe Pontax spodumene lithium project in Northern Québec.
Lithium is a critical metal in the universal fightagainst global warming. It is a core component of Lithium-ionbatteries used for powering electric vehicles and for industrial scaleenergy storage.
For more information about Stria Lithium and the PontaxLithium project, please visit https://strialithium.com .
For more information on Stria LithiumInc., please contact:
Kimberly Darlington
Communications, Stria Lithium Inc.
Dean Hanisch
CEO, Stria Lithium Inc.
(613) 612-6060
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the accuracy or adequacy of this release.
Cautionary Note RegardingForward-Looking Information
This news release contains "forward-lookinginformation" within the meaning of the applicable Canadiansecurities legislation that is based on expectations, estimates,projections and interpretations as at the date of this news release. The information in this news release about the closing of theTransaction and the Offering; the approval of the TSXV relating to theTransaction and the Offering; and any other information herein that isnot a historical fact may be "forward-lookinginformation".
Any statement that involves discussions with respect topredictions, expectations, interpretations, beliefs, plans,projections, objectives, assumptions, future events or performance(often but not always using phrases such as "expects", or"does not expect", "is expected","interpreted", "management's view","anticipates" or "does not anticipate","plans", "budget", "scheduled","forecasts", "estimates", "believes" or"intends" or variations of such words and phrases or statingthat certain actions, events or results "may" or"could", "would", "might" or"will" be taken to occur or be achieved) are not statementsof historical fact and may be forward-looking information and areintended to identify forward-looking information. This forward-lookinginformation is based on reasonable assumptions and estimates ofmanagement of Stria at the time such assumptions and estimates weremade, and involves known and unknown risks, uncertainties and otherfactors which may cause the actual results, performance orachievements of Stria to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking information.
Such factors include, but are not limited to, Stria’sability to complete the Transaction and Offering; delays in obtainingor failures to obtain required governmental, shareholder,environmental or other project approvals; uncertainties relating tothe availability and costs of financing needed in the future; changesin equity markets; inflation; fluctuations in commodity prices; delaysin the development of projects; other risks involved in the mineralexploration and development industry; and those risks set out inStria’s public documents filed on SEDAR (www.sedar.com) underStria's issuer profile.
Although Stria believes that the assumptions andfactors used in preparing the forward-looking information in this newsrelease are reasonable, undue reliance should not be placed on suchinformation, which only applies as of the date of this news release,and no assurance can be given that such events will occur in thedisclosed timeframes or at all. Stria disclaims any intention or obligation to update or revise anyforward-looking information, whether as a result of new information,future events or otherwise, other than as required by law.
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